• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
<>
Sensei Inu Logo

The Wall Street Journal Asks, "Does Bitcoin Have a Future?"

NewsBTC by NewsBTC
9 years ago
in Cryptocurrency Market News
Reading Time: 3 mins read

The Wall Street Journal is no stranger to bitcoin.  It has reported on the digital currency before, but now the publication is asking, “Do cryptocurrencies such as bitcoin have a future?”

What’s particularly interesting about the article is that it presents both sides.  It presents evidence to suggest that bitcoin does indeed have a future in the financial spectrum, and it presents evidence to suggest that it will dissipate within a matter of time.  Perhaps the article is not willing (or for whatever reason, not able) to take sides, and would like its readers to think for themselves and decide on their own.

Regardless of the recent scandals and other problems that bitcoin has faced, the article does at least acknowledge the idea that bitcoin is here and is being used.  Someone is “buying and selling,” the publication states, and it also points out that the market cap for bitcoin and related cryptocurrencies was over $4 billion just a month ago in February, so obviously the popularity is there, as many people are looking for ways to eliminate banks and make the world of finance a little simpler.

As far as why bitcoin has a future, some of the reasons the publication states include:

“Anyone with a cellphone or Internet connection can execute seamless transactions, even in amounts less than a penny.  This is important for many who lack bank access, especially in the developing world.”

Also:

“Transaction fees for merchants are minimal, compared with credit-card fees, which is good for retailers with narrow margins.”

The publication also goes into detail regarding the technology behind bitcoin, aka the blockchain.  Regarding why bitcoin doesn’t have a future, the article states that bitcoin has huge liquidity problems and is overly volatile; according to the article, bitcoin is not a financial instrument, and the health of the economy comes from regularly depositing and withdrawing money, and bitcoins:

“…Are created using a purely mathematical logic that lacks financial or economic underpinnings (currently 25 new bitcoins every 10 minutes); and they can’t be retired as needed to maintain their scarcity.  Given the lack of economic logic behind the net injections of bitcoins, there is increased risk of financial and price instability.”

Ironically, the “pros” of bitcoin were contributed by Dr. Campbell R. Harvey, a professor of finance at Duke University, while the “cons” were proposed by Eric Timoigne, an assistant professor at Lewis and Clark College in Portland, OR.  Both possess currency knowledge, and seem to know their stuff.

past present future of bitcoins

But there is one major point that Dr. Harvey makes that I happen to agree with, and why I ultimately think that currencies such as bitcoin at least have a temporary future… Bitcoin exists and has value because people have assigned it value; because people see value in it and have agreed to use it.  Countries such as Ecuador have learned from bitcoin and have instilled their own digital currencies to aid unbanked populations.  Large companies such as Overstock have acknowledged the popularity of bitcoin among its users and have added bitcoin options to their platforms, and what’s perhaps most important is the fact that bitcoin’s price has finally reached a point where increases have become regular, and large drops are no longer taking shape.

Recently, the bitcoin price jumped up by about $8, a large increase in the last three days particularly when one considers the endless falls the currency took just a month ago, so if this increase continues over time, one can expect that bitcoin’s popularity and usage will indeed grow with the price.

People see value in bitcoin.  They see its abilities to give financial capabilities to those who did not have them before.  They see that bitcoin has the ability to remove power from banks and place it in the hands of customers, and for that, bitcoin has a strength that cannot be replaced or taken away.

Bitcoin has earned its place in the financial sector.  Once that place is secure and tightened, bitcoin’s future will travel beyond what we have foreseen.

Image Courtesy of The Wall Street Journal

Tags: bitcoinbitcoin market capbitcoin popularitybitcoin pricebitcoin price jumpbitcoin scandalsbitcoin technologybitcoin valueblockchaincryptocurrenciesdigital currenciesduke universityecuadorlewis and clark collegeOtheroverstockwall street journal
Tweet123Share196ShareSend
NewsBTC

NewsBTC

Related Posts

Wall Street Memes Enters Last Day of Presale Before Tier 1 Exchange Listing – Could This Be the Next Big Meme Coin?

Wall Street Memes Enters Last Day of Presale Before Tier 1 Exchange Listing – Could This Be the Next Big Meme Coin?

5 hours ago
Spot

What The Drop In Spot And Derivatives Volumes Means For The Price Of Bitcoin

7 hours ago
Base

Explosive 6-Week Growth Sees Base Hit New Milestone

8 hours ago
5 New Meme Coins to Watch: Wall Street Memes Could 10x on IEO, Meme Kombat Raises $50k

5 New Meme Coins to Watch: Wall Street Memes Could 10x on IEO, Meme Kombat Raises $50k

13 hours ago
Bitwise Ethereum ETF

Bitwise Withdraws Application, A Big Blow To Ethereum ETFs?

1 day ago
Unleash the Power of Crypto Cloud Mining: TopHash

Unleash the Power of Crypto Cloud Mining: TopHash

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Ibiza NXT 2023 – Heading toward a purpose-driven Web3...

    3 hours ago
  • The Financial Investment Expo Bangkok, Thailand

    4 hours ago
  • XRP Ledger Gets Massive Update, $XRP Pinned Below $0.55 As...

    6 hours ago
  • Recent BNB Updates: Investors Flock to Borroe.Finance and...

    8 hours ago
  • Bitcoin Metrics Show Long-Term Holders Refusing To Sell...

    9 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.